Hungary Could Join GRI Project Company

Hungary could become a shareholder in a project company to be established for the Azerbaijan-Georgia-Romanian Interconnector (AGRI).

Hungary could become a shareholder in a project company to be established for the Azerbaijan-Georgia-Romanian Interconnector (AGRI), a link that would transport liquefied natural gas from Azerbaijan to Central Europe via the Black Sea and Romania, according to an announcement by Romania's economics ministry.
The project company is to be established by Romania's ROMGAZ, the Georgian Oil and Gas Corporation (GOGC), and the State Oil Company of the Azerbaijan Republic (SOCAR), with each partner holding a 33.3pct stake, according to a memo signed by the parties in April. However, given Hungary's interest in the AGRI project, ownership could be reallocated to give Hungary and the other three companies a 25pct stake each, the ministry said on September 17.

 

News Monitoring